“Climate reporting entities’ ability to correctly assess the full future physical risk from climate change will improve as they both gain a better understanding of which global scenario/pathway that we are heading down and as they gain better modelling capability to understand the physical risks that climate change creates within each scenario,” he says.
Industry group, the New Zealand Banking Association, said the Commerce Commission’s preliminary issues paper was comprehensive and shows an understanding of key issues in personal banking.“In particular, the focus on the significant current regulatory requirements as well as those in train will provide important context to competition and barriers in the industry.”
Beaumont said the permanent emergency exemption was a pragmatic step forward to enable banks to support customers quickly in a time of emergency, which the industry had been requesting since well before Cyclone Gabrielle.
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Roger Beaumont from the New Zealand Banking Association says mortgagee sales should be a last resort. “More often than not, these situations occur when there has been a breakdown in communication,” he told Newshub.
Three new regional banking hubs will open from this week as part of the latest phase of the regional banking hub trial led by the country’s six biggest retail banks.
The three new hubs will be in Waimate, Whangamatā and Ōpōtiki. The Waimate hub will open its doors this Friday, with the remaining hubs opening over the next four weeks.
The first four regional banking hubs opened in late 2020 with banks deciding to extend and expand the trial last year. The hubs are designed to test community and customer demand for multi-bank services in towns that don’t have enough customer demand for bank branches.
Roger Beaumont, chief executive of the New Zealand Banking Association – Te Rangapū Pēke, says the next phase of the trial will be insightful.
“The banks have learned a lot from the trial and recent changes to customer behaviour. The new hub model incorporates changes based on what we’ve learnt from the first phase, such as enhanced privacy and security, and face-to-face engagement with your banker.
“The new model hubs will be located in stand-alone locations and have a multi-bank smart ATM and a coin and note change service. A concierge will be available to assist customers access the services, which include an ATM, tablet for online banking, and phone. These services will be available in private and secure areas to help ensure confidentiality.
“We’re also introducing a banking advice service, where you can book a meeting with someone from your own bank. A banker from each participating bank will be available onsite at certain times during the week to assist with customer queries and internet banking,” says Beaumont.
The opening dates of the hubs are:
- 21 July Waimate
- 31 July Whangamatā
- 25 August Ōpōtiki
The regional banking hubs are an initiative led by the New Zealand Banking Association – Te Rangapū Pēke and New Zealand’s six biggest banks – ASB, ANZ, BNZ, Kiwibank, TSB and Westpac.
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